Swiss-based MSC Mediterranean Shipping Co, the world's largest container shipping company, will stop using the Suez Canal after an attack on one of its ships, it said in a statement Saturday.
Yemen's Iranian-backed Houthi movement has in recent weeks been attacking vessels in the Red Sea — a crucial route allowing East-West trade, especially oil, to use the Suez Canal to avoid the extra time and expense of circumnavigating Africa.
The Liberian-flagged MSC Palatium III was attacked on Friday with a drone in the Bab al-Mandab Strait at the southern end of the Red Sea, according to the Houthis.
The MAERSK shipping line the second largest shipping line from Denmark and the Hapag-Lyod, the german shipping company also stopping their container vessels through the Suez canal passage.
Means we can expect huge delay in shipping to and from Europe. This can increase the freight cost also. This will affect the income for Egypt as the big fee they are collecting from each container ships.
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